AlphaQuest LLC Sells 15,592 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

AlphaQuest LLC lessened its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 65.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,222 shares of the company’s stock after selling 15,592 shares during the period. AlphaQuest LLC’s holdings in Driven Brands were worth $133,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DRVN. Blue Trust Inc. raised its holdings in shares of Driven Brands by 600.5% during the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock valued at $148,000 after buying an additional 7,885 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of Driven Brands during the 3rd quarter valued at about $153,000. SBI Securities Co. Ltd. purchased a new position in shares of Driven Brands during the 4th quarter valued at about $215,000. SG Americas Securities LLC raised its holdings in shares of Driven Brands by 47.2% during the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock valued at $221,000 after buying an additional 4,399 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Driven Brands by 54.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock valued at $234,000 after buying an additional 5,815 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. BMO Capital Markets lifted their price target on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group lifted their price target on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Driven Brands has an average rating of “Moderate Buy” and a consensus target price of $19.60.

Driven Brands Price Performance

Shares of DRVN stock opened at $17.48 on Tuesday. The firm has a market cap of $2.86 billion, a P/E ratio of 437.00, a P/E/G ratio of 0.79 and a beta of 1.13. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $18.01. The business’s 50 day moving average price is $16.13 and its 200-day moving average price is $15.65. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. On average, equities research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Driven Brands Company Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.